BYLAWS FOR THE NORWAY-AMERICA FOUNDATION

Organization no. 977 130 972

 

§ 1 Background

The Norway-America Foundation (hereinafter referred to as “the Foundation”) was established following the merger of several funds administered by the Norway-America Association. The Foundation was originally established through initiatives from the boards of the various funds in 2013, with further mergers on January 1, 2019, and January 1, 2022. These mergers have resulted in significantly simplified administration as well as reduced administrative costs and public expenses.

The Foundation’s capital at the first merger was NOK 23,418,651 (as of January 1, 2013). Following the most recent merger on January 1, 2022, the Foundation’s capital is NOK 36,633,969.

​

***

The Norway-America Foundation is used as the acquiring foundation. The name will remain Norway-America Foundation after the merger, and the merged foundation will continue to use its organization number. The Norway-America Foundation was chosen because it had the largest capital base.

The following funds constitute the basis of the newly merged Norway-America Foundation:

​

The Norwegian Marshall Fund

The Norway-America Friendship Fund

HM Kong Olav V Fødselsdagsfond

The America-Norway Heritage Fund

Kong Olav V Stipendiefond

Alf og Bergljot Kolflats Stipendiefond

Ragnhild Marie Løkens Utdannelsesfond

Royal Caribbean Cruise Line Scholarship Fund

The Thanksgiving Fund

The American Civilization Lecturer Fund

Franklin D. Roosevelts Minnefond

Stiftelsen Norge-Amerika Foreningens Jubileumsfond

Kjell Nordviks Fond

​

Future scholarship allocations shall reflect the proportion of the opening balance and the original purpose of the fund

 

§ 2 Previous Funds

The Norwegian Marshall Fund (org. nr 977 130 972)
The Marshall Fund was established in 1977 in recognition of the fundamental significance of the Marshall Plan for Norway during the reconstruction of Europe after World War II. The fund was made possible through contributions from Norwegian individuals and businesses, given as an expression of gratitude to the people of the United States, and had an initial capital of NOK 2,500,000.

The purpose of the fund is to provide scholarships to American and Norwegian citizens. Historically, it has particularly aimed to support American citizens coming to Norway for research or higher studies.

​

The Norway-America Friendship Fund (org. nr 977 119 774)
The fund was established in 1979 with an initial capital of NOK 300,000 and has later received significant additional contributions.

The fund was created to strengthen and develop the good relationship between the people of Norway and the USA by awarding scholarships to Norwegian and American citizens and supporting the operations of the Norway-America Association. In recent years, the practice has been for the entire contribution to go toward supporting the operations of the Norway-America Association.

​

HM Kong Olav V Fødselsdagsfond (org. nr 977 120 365)
The King Olav V Birthday Fund was established on the occasion of His Majesty’s 70th birthday with an initial capital of NOK 932,000.

The purpose of the fund is to promote scientific research, preferably within international finance and economics, public international law, international private law, market law, as well as transport technology and transport economics. The funds were intended to provide scholarships for citizens planning to study or conduct research in the USA, preferably at the doctoral level.

​

The America-Norway Heritage Fund (org. nr 979 486 375)
The America-Norway Heritage Fund was established in 1985 (registered November 2006) by The Lutheran Brotherhood Insurance Society in Minneapolis, Minnesota, as a gift to Norwegians Worldwide and the Norway-America Association.

The purpose of the foundation is to support lectures and presentations in Norway by Americans with special knowledge of aspects of American culture, economy, politics, and religion that demonstrate the influence Norwegian Americans and their descendants have contributed to American society. The fund supports travel, accommodation, and speaker fees for lectures in Norway.

​

Kong Olav V Stipendiefond (org. nr 977 137 039)
The King Olav V Scholarship Fund was established through initiatives by the board of the Norway-America Fund (later the Norway-America Association) and private contributions collected in Norway during the summer of 1939, during Crown Prince Olav and Crown Princess Martha’s tour of the United States. The fund had an initial capital of NOK 115,000.

The fund’s original purpose is to award a scholarship each year to a Norwegian student - or possibly multiple students - male or female, wishing to continue graduate studies or research in their field at a higher educational institution in the United States. The scholarships are intended to be substantial enough to genuinely assist the students.

​

Alf og Bergljot Kolflats Stipendiefond (org. nr 977 137 047)
This scholarship was a gift to the Norway-America Association from Alf and Bergljot Kolflat, in gratitude for engineering studies at NTH in Trondheim, which launched a long and distinguished career in the USA. The fund was established in 1976 with an initial capital of NOK 520,000.

Purpose of the fund: The scholarship is awarded to Norwegian engineers and architects with a minimum of three years of professional experience after completing their education. The purpose of the program is not academic studies but practical orientation and introduction to the field as it is practiced in the USA. Scholarships may be used for participation in courses, conferences, and seminars, as well as tours of industrial facilities and company visits.

​

Ragnhild Marie Løkens Utdannelsesfond (org. nr 886 869 282)
The fund was established in 2003 through a testamentary gift from Ragnhild Marie Løken. According to the donor’s wishes, the net returns of the fund are to support further education of Norwegian students in the USA, male or female. Among qualified applicants, nurses are given priority for scholarships.

The fund was established with an initial capital of NOK 1,348,201, half of which was bequeathed to the Norway-America Association and half to Norwegians Worldwide. The boards of the Norway-America Association and Norwegians Worldwide decided that the amounts would constitute a single fund, and that scholarships could be awarded based on recommendations from the Norway-America Association’s scholarship committee and the board Norwegians Worldwide.

​

Royal Caribbean Cruise Line Stipendiefond (org. nr 877 543 412)
The fund was established in 1996 by A. Wilhelmsen/RCCL. Its purpose was to strengthen the ties between the University of Miami, Coral Gables, Florida, and Norway.

The fund provides scholarships for university studies or research in business administration, engineering, natural sciences, or other approved fields at the University of Miami.

​

The Thanksgiving Fund (org. nr 977 137 020)
The fund was established in 1985 as a result of the celebration of the USA’s 200th anniversary. The Jubilee Committee decided to create a Thanksgiving Fund based on the surplus from the anniversary celebration and future similar events.

The purpose of the fund is to provide scholarships to Americans wishing to study at the college level in Norway. Scholarships are announced separately under the name “Norwegian Thanks-Giving Fund” and are limited to fields that are special to Norway, such as fisheries, geology, glaciology, social medicine, and Norwegian culture.

​

The American Civilization Lecturer Fund (org.nr 977 137 063)
The fund was established in 1976 on the occasion of the 150th anniversary of Norwegian emigration to the USA. The United States Information Service donated USD 30,000 to the Norway-America Association on the condition that the Association would raise an equivalent amount.

The purpose of the fund is to bring outstanding American lecturers to Norway.

Franklin D. Roosevelts Minnefond (org. nr 977 137 055)
The fund was established in 1945 with an initial capital of NOK 65,682.

The purpose of the fund is to honor President Roosevelt’s memory and promote one of his major goals: international understanding. Scholarships are awarded to gifted youth for studies in economic, political, social, technical, and cultural matters, as well as issues of particular interest to industry managers and workers.

​

Stiftelsen Norge-Amerika Foreningens Jubileumsfond (org. nr 977 207 843)
The Jubilee Fund was established in 1984 on the occasion of the 65th anniversary of the Norway-America Association with a donation of NOK 7,500 from Messrs. Johan C. C. Harr, Olav E. Klingenberg, and Erling Rønneberg of Arthur Andersen & Co., Oslo. In 1988, the fund’s capital was increased by a transfer from the Marshall Fund of NOK 69,964. In 1989, the fund received a donation from former finance minister Petter Jacob Bjerve of NOK 14,170.

The purpose of the fund is to strengthen the activities of the Norway-America Association and provide scholarships for Americans to study in Norway and for Norwegians to study in the USA.

​

Kjell Nordviks fond (org. nr 982 43 1808)
Kjell Nordvik’s Fund was established on September 12, 2000, based on a donation of NOK 1,615,386 from Kjell Nordvik. The fund has a restricted capital of NOK 1,000,000.

The purpose of the foundation is to provide scholarships to qualified individuals from the Gjøvik area for further education at the university level in the USA. Kjell Nordvik grew up in Gjøvik. He was Norwegians Worldwide’s first board member with American citizenship and served as president of the association’s Chicago Chapter.

​

§ 3 Purpose

The purpose of the Foundation is to promote cultural and practical cooperation between Norway and the USA/Canada, mainly through academic exchange. The Foundation shall award scholarships for studies or research and encourage student exchange between the countries. In addition, the Foundation’s capital shall be used to cover the scholarship administration of the Norway-America Association. The Foundation also aims to support American lecturers in informing Norwegians about the relationship between Norwegians and North Americans.

​

§ 4 Board and Scholarship Committee

The Foundation is governed by a Board consisting of four members. The Board is appointed by the Board of the Norway-America Association. Three of these members shall be appointed from the Board and administration of the Norway-America Association. The fourth member shall be chosen from individuals connected to the founders of the previous funds, cf. § 1. The Board of the Norway-America Foundation shall decide on disbursements from the Foundation. Disbursements for scholarships shall be awarded upon the recommendation of the Scholarship Committee of the Norway-America Association.

​

§ 5 Management

As of January 1, 2022, the Foundation’s basic capital amounted to NOK 8,818,392 and unrestricted equity NOK 27,815,577. The Foundation’s capital shall be managed prudently, ensuring sufficient consideration is given to security and opportunities for satisfactory returns in order to fulfill the Foundation’s objectives. The Board of the Foundation is responsible for the management of the capital.

The capital’s return shall be used in accordance with § 3. Exceptionally, in cases of special need and/or if the annual return is insufficient, up to 10% of the Foundation’s capital may be used.

 

If the Board finds no suitable application for the return in a given year, it shall decide whether the remaining amount shall be allocated for future distribution.

Oslo, January 1, 2022